MIRA
INFORM REPORT
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Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELITE INTERNATIONAL LIMITED |
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Registered Office : |
Elite House, GPO Box No.395, CDA Avenue, Chittagong |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
June, 1974 |
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Com. Reg. No.: |
C-4314 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Exporting of Tea to various Foreign Countries |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Elite International
Limited
Address: Elite House
GPO
Box No.395
CDA
Avenue,
Chittagong
Country: Bangladesh
Tel. No. : 880-31-654022-4
Fax No. : 880-31-650157,
654539
E-Mail: elite@spctnet.com
Established : June,
1974
Incorporation No. : C-4314
Incorporation Date: 4th June 1974
Legal Structure:
The subject is a private
limited company in corporate
With
the Registrar of Joint Stock Companies,
Dhaka,
Business Type:
Exporters
Status: Satisfactory
Payments: No complaints
have been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: Elite House
54,Motijheel
Commercial Area,
Dhaka-1000,
Bangladesh
Tel. No. : 880-2-9563394, 9568052, 9561376
Fax No. : 880-2-9570473, 9561375
E-Mail: elite@citechco.net
Branch: NIL
SHAREHOLDER’S AND DIRECTORS
Name: Mr.Salim
Ahmed
Designation: Chairman & Managing
Director
Name: Mr.Feroz
Ahmed
Designation: Director
Name: Mr.Sayedur
Siraj
Designation: Director
Name: Mr.Ramjul
Siraj
Designation: Director
BUSINESS DETAILS
Line of Business: Exporters
Items Dealing
In: 1 Tea
Terms of Sale: 1 Against
L/C
BANKERS
Name: IFIC
Bank Limited
Branch: Agrabad
Branch
Address: Agrabad
Commercial Area,
Chittagong
Name: Sonali
Bank Ltd
Branch: K.C.Dey Road Branch,
Address: Laldighi
Chittagong
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Investment |
Tk.30 million |
Tk.30 million |
Tk.30 million |
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Turnover |
Tk.270 million |
Tk.276.9 million |
Tk.275 million |
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Liability |
Tk.8 million |
Tk.10.2 million |
Tk.11.7 million |
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Fixed Assets |
Tk.70 million |
Tk. 70 million |
Tk.70 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.50 million |
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Paid Up Capital |
: |
Tk.500, 000.00 |
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Each Share Value |
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Tk.100.00 |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
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GB Pound |
1 |
143.7238 |
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U.S Dollar |
1 |
69.4023 |
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European Euro |
1 |
101.3730 |
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Japanese Yen |
1 |
0.6176 |
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Australian Dollar |
1 |
63.2055 |
GENERAL INFORMATION
No. of Employees: 56
Executives------------------3
Junior Executives---------5
Tea Taster------------------4
Field Staffs------------------4
Quality Control------------10
Supervisory Staffs- -------5
Support Staffs- ------------3
General Staffs------------10
Workers--------------------12
Office Area: 4,500
sq.ft (own)
Factory Area: N/A
Warehouse Area: 10,800
sq.ft.(Own)
Exported To: 1 Russia
1 Pakistan
1 Middle Eastern Countries
Member: 1 Bangladesh Tea Exporters
Association, Dhaka
1 Chittagong Chamber of Commerce &
Industries,
Dhaka
Name of the Group: Elite
Group
Subsidiaries: 1 Elite Chemical Industries Limited,
1 Karnaphuli
Tanneries & Chemical Limited,
1 Delight Knitting
Co Limited,
1 Elite Garments
Industries Ltd,
1 Elite Iron &
Steel Mills Limited,
1 Elite Steel
Mills Limited,
COMMENTS
The subject is a private limited company engaged in
exporting of tea to various foreign countries. The subject’s major market is
Dubai, Bahrain and other Middle Eastern countries where their products have a
very good demand. It is to be noted that the subject is one of the oldest
exporter of tea in the country.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
his business commitments, it is reported.
The company is good for normal business engagements.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)